Egypt-based HealthTech Bypa-ss raises $1M in Pre-Seed
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Egypt-based HealthTech and Heath Information management provider Bypa-ss has successfully raised $1M in its latest funding round. The Pre-Seed round was led by local and global investors with participation from Magic Fund, Acuity Ventures, Launch Africa, Plug and Play, and other key VCs.
Founded in 2019, Bypa-ss introduced HealthTag, a platform for Health Information Exchange (HIE), offering physicians a free cloud-based clinic management solution. Through linking with a cloud database, HealthTag securely stores medical records collected from different healthcare providers and gives them to their rightful owner, the user. Users also benefit from discounts up to 70% discounts when paying out-of-pocket from the top healthcare providers in Egypt.
Post-pandemic, and as recorded in our Q3 2021 EVM Healthcare Venture Investment Report, Egypt ranked as the top geography by number of deals and amount of capital deployed backing Healthcare startups in MENA. Despite raising 80% fewer funds by Q3 2021 than the same time last year, Egypt-based Healthcare startups like IoT-driven clinic CRM solutions provider SoTech, pharmaceutical and supplement online marketplace Yodawy, and E-consultation platform Estshara closed funding rounds this year to drive Egypt’s 38% share of all capital deployed in healthcare across MENA by Q3 2021.
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Bypa-ss originated in Shebin El Kom, Menofia, and is now servicing its members all across Egypt. Having been accelerated and financially backed by Falak Startups, Bypa-ss was able to gain momentum and collect further angel funds that enabled it to expand across 5 cities in one year. Offering patients ownership of their health records, while giving doctors and healthcare providers visibility on patients’ full history. US-based international VC Plug and Play highlighted in a statement “We are beyond excited to invest in Bypa-ss. We are confident that Andrew and his team will build the future of health information infrastructure in Egypt, and we are glad to be part of it."
Bypa-ss is currently eyeing expansion in its customer base and healthcare network, a scaling process that is now plausible with their newly acquired funds, coming promptly after their recent rebranding. In light of this platform-boosting investment Andrew Saad, CEO of Bypa-ss concluded “With this investment coming in, we will be able to avail more features to our customers while maintaining our service level and growth momentum. Additionally, the company intends to use the funds to fuel expansion, perfect a high-end tech mobile app for patients to engulf and facilitate the information exchange between the stakeholders from different levels and sizes and capitalize on the company’s rapid growth.”
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